SS Multifamily Memo 18-02mf

Date: March 1, 2018

MULTI-FAMILY GUIDE REVISIONS: CONTACT MULTI-FAMILY

ALASKA ENERGY REVOLVING LOAN PROGRAM
Eric Havelock, Lending Officer II, Mortgage Operations

Loan Terms Debt Service Coverage Ratio
(Section 1000.05.D)

Effective with the date of this memo, Section 1000.05 is expanded to include Section 1000.05.D, which states:

All loan amounts must be supported by a debt service coverage ratio of 1.20 or greater. The DSCR is calculated by dividing the anticipated energy savings by the loan payment amount.

Criteria Loan-to-Value
(Section 1000.06.B)

Effective with the date of this memo, Section 1000.06.B is expanded to read as follows:

A maximum or minimum loan-to-value is not required; however, in cases where real property is being offered as collateral, in no instance may the loan to value exceed 100% of the real property being appraised.

Criteria Security
(Section 1000.06.C)

Effective with the date of this memo, Section 1000.06.C.2 is expanded to read as follows:

Other collateral, as deemed appropriate by AHFC, which may include a deed of trust, secured in first-lien position, on the building that is the subject of the energy efficiency loan and the real estate on which the building is located.

GUIDE REVISIONS: CONTACT MULTI-FAMILY

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